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Mar 22, 2019

Hungarian wages grew fastest in the EU last year

Gross wages rose by 11.9 percent in Hungary last year, the fastest growth rate in the European Union

Hungarian gross wages rose the fastest in the European Union in 2018, according to data released by Eurostat.

Rmx.news reports that gross wages rose by 11.9 percent in Hungary last year, the fastest growth rate in the European Union. Eurostat data - which also showed employers' cost with relation to wage rises - indicate that due to lower enterprise costs introduced in January 2018, that increase only cost companies an additional 9.3 percent.

Employers' labor costs rose the fastest in Romania by 13.4 percent, but due to higher taxes that resulted in a smaller growth in wages.

Latvia had the second highest wage increase last year at 11.3 percent. Polish wages were up by 6.7 percent, Czech wages by 8.5 percent and in Slovakia they rose by 6.8 percent.

Malta and Spain had the lowest wage increase of 0.9 and 1.3 percent, respectively, while wages in the EU's largest economy, Germany, went up by 2.3 percent.